HMRC Launch Contractual Disclosure Facility

HM Revenue and Customs have launched a new amnesty for taxpayers suspected of committing serious tax fraud.
Under the Contractual Disclosure Facility (CDF), HM Revenue and Customs will write to taxpayers that are suspected of committing tax fraud to offer the opportunity to make a disclosure of unpaid tax liabilities within 60 days.  In return HM Revenue and Customs will agree not to pursue criminal prosecution against the taxpayer.
Taxpayers that have not yet been contacted by HM Revenue and Customs may voluntarily request to be considered for the CDF.  Alternatively those with offshore assets could consider registering under the Liechtenstein Disclosure facility (LDF).
For more information and advice regarding the disclosure of tax to HM Revenue and Customs please contact Paul Davison at Eaves & Co on 0113 2443502.